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Sources of Inflation in Developing Countries

Author/Editor: Loungani, Prakash | Swagel, Phillip
Authorized for Distribution: December 1, 2001
Electronic Access: Free Full Text (PDF file size is 787KB)
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Disclaimer: This Working Paper should not be reported as representing the views of the IMF. The views expressed in this Working Paper are those of the author(s) and do not necessarily represent those of the IMF or IMF policy. Working Papers describe research in progress by the author(s) and are published to elicit comments and to further debate.

Summary: This paper develops stylized facts about the inflation process in developing countries, focusing particularly on the relationship between the exchange rate regime and the sources of inflation. Using annual data from 1964 to 1998 for 53 developing countries, we find that money growth and exchange rate changes-factors typically related to fiscal influences-are far more important in countries with floating exchange rate regimes than in those with fixed exchange rates. Instead, inertial factors dominate the inflation process in developing countries with fixed exchange rate regimes.
 
Series: Working Paper No. 01/198
Subject(s): Inflation | Developing countries | Exchange rate regimes
Author's keyword(s): Inflation | developing countries | exchange rate regimes
 
English  
    Published:   December 1, 2001        
    ISBN/ISSN:   1934-7073   Format:   Paper
    Stock No:   WPIEA1982001   Pages:   29
    Price:   US$15.00
       
     
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